Large Business Delegation from Russia Plans Visit to Argentina in Late November - Official15 August

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MOSCOW, August 1 (Sputnik) - A large business delegation from Russia plans to visit Buenos Aires in late November within the framework of G20 summit, CEO of Russian agriculture chemicals giant PhosAgro, RSPP Board member who also co-chairs Russia-Argentina Business Council (RABC), Andrey A. Guryev, told Sputnik on Wednesday.

“I am sure that many of our partners from different countries, especially Latin America, will come to the summit, and we are now actively discussing the arrival of a large business delegation from Russia with the Argentine colleagues in the business council. We believe that the summit is a good opportunity for organizing the next meeting of the council”, Guryev said.

Guryev did not rule out that within the framework of the Business 20 meeting, which will precede the G20 summit, and at the summit itself, a number of projects of Russian companies will receive support and incentives for implementation.

At the moment, there are quite a lot of interesting strategic projects, where Argentine colleagues invite Russian partners, with the latter being very interested, Guryev noted.

In particular, these projects include the modernization of the Argentine railway infrastructure and the supply of railway machinery and rolling stock by Russia's Sinara Transport Machines and Transmashholding.

“By the way, Transmashholding announced the decision to invest 170 million euros ($198.7 million) in the organization of production of machinery, spare parts and service in Argentina,” - the official said.

The joint development, production and supply to Argentina of high-tech oil and gas hydrofracturing rigs equipped with Russian gas turbine power plants are also discussed by Russian Fracturing Company and Argentina's QM Equipment S.A. and EkoTech Energy, Guryev said.

This equipment may be used in the joint project of Russian gas giant Gazprom and Argentine YPF for the development of oil and gas deposits in Argentina, he specified.

Power Machines and Inter RAO-Export are discussing with Argentine companies the supply of electric power equipment for the country's hydro- and thermal power plants, he noted.

Russia's ODK already implements a number of contracts with the Argentine company Transportadora de Gas del Sur S.A. (TGS) for the supply of new gas turbine engines and the maintenance of compressor stations of gas pumping units that are already in operation, Guryev said.

“And, of course, these are the projects that are discussed with the partners of Rosatom, for example, cooperation in nuclear medicine, the nuclear fuel cycle and the supply of various high-tech products to Argentina,” - he added.

Russian innovative biotech company Biocad and other interested Russian companies are considering the supply of pharmaceuticals to the country, Guryev said.

“Argentina is now open to Russian investments, Russian companies,” - he concluded.

Companies from Argentina are also interested in projects in Russia, the top manager noted.

According to Guryev, the interest in the Russian market is primarily from Argentine agricultural and food producers, which account for about 85 percent of Argentine exports to Russia.

“The so-called counter-sanctions applied by Russia in relation to Western countries` restrictive measures since 2014 have created additional opportunities for Argentine exporters of fruits and vegetables, meat, dairy, fish products, and seafood,” - the official said.

Although it is now premature to expect a large influx of Argentine investments in the Russian economy, there are good prospects for the Argentine technologies and patents in the field of agricultural engineering, biotechnology and pharmaceutical industry for the creation of joint ventures on the territory of Russia, he noted.

G20 members represent 85 percent of the global GDP, two-thirds of the world's population and 75 percent of international trade. This year, Argentina holds the chairmanship of the group and hosts dozens of G20 events on various levels, including the leaders' summit scheduled for November 30 - December 1, 2018.